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The biotech ‘s experimental antibody holds the potential to neutralise the deadly coronavirus that causes COVID-19.
You know a company has some really good news when its stock skyrockets 144 percent in a single day.
That’s exactly what Sorrento Therapeutics (NASDAQ: SRNE) shares did on Friday.
It looked like the biotech ‘s momentum would keep going on Monday, with Sorrento soaring more than 40 percent early before giving up its additional gains.
The company announced Friday morning that its experimental antibody STI-1499 was able to completely inhibit infection by the novel coronavirus in a preclinical test.
Sorrento Therapeutics stock Could Be A Goldmine Stock?
Evaluation on the Vaccine
STI-1499, named COVI-GUARD, which is being evaluated as a standalone antibody therapy aimed at blocking viral entry into host cells.
COVI-SHIELD, a proprietary cocktail of therapeutic antibody, including STI-1499, focused on inhibiting viral infection of healthy host cells.
A proprietary COVIDTRAP ACE2-Fc protein, which binds to the S1 domain of the spike protein of the SARS-CoV-2 virus, thereby blocking the virus from binding and infecting respiratory epithelial cells.
A next-generation, gene-encoded antibody vaccine against COVID-19.
The ACE-MAB fusion protein, which utilizes its STI-4920 antibody and Mabpharm Ltd.’s fusion protein CMAB020 to create a bispecific fusion protein with two functional arms.
STI-6991, an I-Cell COVID-19 vaccine.
A natural killer cell-based immunotherapy approach, named COVI-CELL, to treat critically and severely ill COVID-19 patients.